Match between columns Premises: Sample variance Standard deviation Skewness Kurtosis Standard error

The Answer of Used to determine how accurate the sample is...

Exam 12: Business Statistics and Regression Analysis

Match the following terms with their description.

Sample variance

Used to determine how accurate the sample mean predicts the population mean

Standard deviation

Simplest method to calculate the dispersion of a data set

Skewness

Characterizes the peakedness or flatness of a distribution compared to the normal distribution

Correct Answer:

Verified

Sample variance

Standard deviation

Skewness

Kurtosis

Standard error

(Matching)

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Question 61

Although Excel can automatically generate evenly distributed bin values based on the minimum and maximum values of the input range,it is often better to define your own bins.

(True/False)

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Question 62

Match the following terms with their description.

Observational unit

Collection of related data

Sample population

Values that describe an attribute of an object or an event

Data set

A subset

Correct Answer:

Verified

Observational unit

Sample population

Data set

Data

Probability distribution

(Matching)

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Question 63

To calculate the mean in Excel,the ________ function is used.

(Short Answer)

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Question 64

A summary function is a function that can perform multiple calculations on one or more items in an array.

(True/False)

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Question 65

If there are seven variables,the ________ value is the 4th variable in the list where there are three variables above and three variables below.

(Short Answer)

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Question 66

In business,time between sales transactions,the weight of a package for shipping,and the amount of money a customer spends in any given visit are all examples of ________ variables.

(Short Answer)

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Question 67

The ________ function generates a random number between 0 and 1.

(Short Answer)

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Question 68

All of the following statements are TRUE about the language of statistics EXCEPT:

(Multiple Choice)

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Question 69

________ is the likelihood that some event will occur based on what is already known.

(Short Answer)

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Question 70

________ is the process of deriving meaningful information from raw data.

(Short Answer)

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Question 71

Mathematically,the ________ is calculated by taking the square root of the variance.

(Short Answer)

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Question 72

The FREQUENCY function in Excel is a(n)________ function that creates a frequency distribution that calculates how often values occur within a bin.

(Short Answer)

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Question 73

In business,performance classifications of employees,number of soaps in a box,and the number of different services a spa offers its customers are all examples of ________ variables.

(Short Answer)

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Question 74

Inferential statistics is the process of deriving meaningful information from raw data.

(True/False)

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Question 75

________ is a method used to predict future values by analyzing the relationships between two or more variables.

(Multiple Choice)

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Question 76

Match the following terms with their description.

Exponential distribution

Calculates the probability that a specified number of events will occur based on the mean of the data set

R Square

Continuous probability function that models the times between events

Intercept coefficient

Value at which a regression line will cross the y-axis and is used in the slope intercept formula to predict values

Correct Answer:

Verified

Exponential distribution

R Square

Intercept coefficient

Poisson distribution

Hypergeometric distribution

(Matching)

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Question 77

A ________ graph is a statistical graph that summarizes the distribution of data and how the data fits into defined bins.

(Multiple Choice)

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Question 78

The spa manager surveys 100 random customers about their opinions on a new service being offered at the spa.Based on the results of that random sample,managers at the spa can make assumptions about whether or not the new spa service would go over well.This is an example of ________.

(Multiple Choice)

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Question 79

The ________ distribution is a discrete probability function that has wide business applications.

(Multiple Choice)

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Question 80

Although Excel can automatically generate evenly distributed bin values based on the minimum and maximum values of the input range,it is often better to define your own bins.

To calculate the mean in Excel,the ________ function is used.

A summary function is a function that can perform multiple calculations on one or more items in an array.

If there are seven variables,the ________ value is the 4th variable in the list where there are three variables above and three variables below.

In business,time between sales transactions,the weight of a package for shipping,and the amount of money a customer spends in any given visit are all examples of ________ variables.

The ________ function generates a random number between 0 and 1.

All of the following statements are TRUE about the language of statistics EXCEPT:

________ is the likelihood that some event will occur based on what is already known.

________ is the process of deriving meaningful information from raw data.

Mathematically,the ________ is calculated by taking the square root of the variance.

The FREQUENCY function in Excel is a(n)________ function that creates a frequency distribution that calculates how often values occur within a bin.

In business,performance classifications of employees,number of soaps in a box,and the number of different services a spa offers its customers are all examples of ________ variables.

Inferential statistics is the process of deriving meaningful information from raw data.

________ is a method used to predict future values by analyzing the relationships between two or more variables.

A ________ graph is a statistical graph that summarizes the distribution of data and how the data fits into defined bins.

The spa manager surveys 100 random customers about their opinions on a new service being offered at the spa.Based on the results of that random sample,managers at the spa can make assumptions about whether or not the new spa service would go over well.This is an example of ________.

The ________ distribution is a discrete probability function that has wide business applications.

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Excels Data Model, Power-pivot, and Power View

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